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RCS STAKE: Communications and publishing entrepreneur Urbano Cairo has acquired a 2.8 percent stake in the troubled RCS MediaGroup, the future of which has been the subject of heated debate here. RCS publishes the daily Corriere della Sera, one of Italy’s most authoritative newspapers.
This is a personal investment for Cairo, chairman of Cairo Communication SpA, made through U.T. Communications SpA, which he controls. Other shareholders include Fiat, Mediobanca, Intesa Sanpaolo, Benetton and Tod’s chief Diego Della Valle, who has expressed concerns that RCS could become a tool of political influence if a single private investor takes too dominant a stake in the company.
RELATED STORY: Diego Della Valle Makes Appeal for Freedom of the Press >>
Last March, Cairo took over Italian TV channel La7, beating out Della Valle’s competing offer in tandem with private equity firm Clessidra SGR SpA.